FxWirePro: USD/ZAR hits fresh 2 –week high at 15.40, intraday bias remains bullish
USD/ZAR is currently trading around 15.35 levels. It made intraday high at 15.40 and low at 15.16 levels. Intraday bias remains bullish till the time pair holds key support at 15.12 marks. A daily close below 15.12 will …
It made intraday high at 15.40 and low at 15.16 levels.
Intraday bias remains bullish till the time pair holds key support at 15.12 marks.
A daily close below 15.12 will drag the parity down towards key supports at 14.96, 14.72, 14.64 (March 31, 2016 low) and 14.43(20D EMA) levels respectively.
On the top side, key resistance is seen at 15.40 marks. A sustained close above it is required to drag the parity higher.
A daily close above 15.40 will take the parity higher towards key resistances around 15.61, 15.86(February 29, 2016 high) and 16.15 marks respectively.
We prefer to take long position in USD/ZAR only above 15.40, stop loss 15.12 and target 15.80/15.98 marks.
